Ethan Brown Sells 313,000 Shares of Beyond Meat, Inc. (NASDAQ:BYND) Stock

Beyond Meat, Inc. (NASDAQ:BYND) insider Ethan Brown sold 313,000 shares of Beyond Meat stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $3.75, for a total transaction of $1,173,750.00. Following the completion of the transaction, the insider now directly owns 1,703,288 shares of the company’s stock, valued at approximately $6,387,330. This trade represents a 15.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Beyond Meat Price Performance

Shares of BYND opened at $3.80 on Wednesday. The company’s 50-day moving average is $5.46 and its 200-day moving average is $6.11. The firm has a market capitalization of $247.77 million, a PE ratio of -0.91 and a beta of 2.22. Beyond Meat, Inc. has a fifty-two week low of $3.55 and a fifty-two week high of $12.12.

Beyond Meat (NASDAQ:BYND) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.41) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.03. The company had revenue of $81.01 million during the quarter, compared to the consensus estimate of $80.13 million. During the same period in the prior year, the company earned ($1.09) earnings per share. The firm’s revenue was up 7.6% compared to the same quarter last year. Analysts predict that Beyond Meat, Inc. will post -2.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Mizuho cut their target price on shares of Beyond Meat from $6.00 to $5.00 and set an “underperform” rating for the company in a research note on Monday, August 26th. Three investment analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat, Beyond Meat currently has an average rating of “Hold” and an average target price of $5.50.

Institutional Trading of Beyond Meat

Several institutional investors have recently added to or reduced their stakes in BYND. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its holdings in shares of Beyond Meat by 42.7% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 625,396 shares of the company’s stock worth $4,240,000 after buying an additional 186,996 shares in the last quarter. Vontobel Holding Ltd. boosted its holdings in Beyond Meat by 91.5% in the 3rd quarter. Vontobel Holding Ltd. now owns 569,773 shares of the company’s stock valued at $3,863,000 after purchasing an additional 272,240 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Beyond Meat by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 522,894 shares of the company’s stock worth $3,545,000 after purchasing an additional 7,332 shares during the period. Bank of New York Mellon Corp raised its position in shares of Beyond Meat by 5.3% in the second quarter. Bank of New York Mellon Corp now owns 235,016 shares of the company’s stock valued at $1,577,000 after buying an additional 11,800 shares in the last quarter. Finally, Raymond James & Associates bought a new stake in shares of Beyond Meat in the second quarter valued at approximately $1,463,000. 52.48% of the stock is currently owned by institutional investors.

About Beyond Meat

Beyond Meat, Inc, a plant-based meat company, develops, manufactures, markets, and sells plant-based meat products in the United States and internationally. The company sells a range of plant-based meat products across the platforms of beef, pork, and poultry. It sells its products through grocery, mass merchandiser, club stores, and natural retailer channels, as well as various food-away-from-home channels, including restaurants, foodservice outlets, and schools.